As a seasoned crypto investor with a keen eye for promising projects, I find myself increasingly intrigued by Usual and its impressive growth trajectory. Having navigated through various market cycles and observed countless projects come and go, it’s rare to see a stablecoin protocol that not only thrives in the competitive landscape but also innovates relentlessly while maintaining a strong community focus.
Typically, Usual has successfully garnered a substantial amount of funding during its Series A investment, with Binance Labs and Kraken Ventures taking the lead. Notable firms such as Ondo, Coinbase Ventures, IOSG, OKX Ventures, Galaxy Ventures, Ethena’s Guy, Symbolic Capital, Amber, GSR, and Psalion also contributed to this funding round. This influx of capital allowed the decentralized stablecoin protocol to achieve a milestone of $10 million, signifying an important step in its growth path.
Typically, Usual stands out in the cut-throat market of stablecoins through its innovative methods in digital currency. Some significant achievements are locking up over $1.4 billion in total value, earning a spot among the top five stablecoins, and outperforming established players like PayPal’s USD offering.
Innovation, Community Focus Drive Usual’s Growth
What makes Usual unique is its user-focused framework, in which 90% of the platform’s native token (USUAL) is allocated to users. In contrast to conventional stablecoin systems, this model fosters a more democratic environment, empowering users with both ownership and profit-sharing opportunities within the platform.
On their official site, Binance Labs announced that Usual is planning to launch a stablecoin supported by tangible assets, aiming to maintain its worth consistent and reliable. Unlike conventional bank-backed stablecoins, this one mitigates banking risks as it operates seamlessly within the realm of decentralized finance (DeFi). Users will enjoy benefits such as rewards, have a voice in decision-making processes, and even share in its growth.
Partnerships Position Usual for Stablecoin Success
Alex Odagiu, an Investment Director at Binance Labs, stated that stablecoins have been beneficial for novice users in the cryptocurrency world. By fostering community involvement, they become more welcoming and empowering. He highlighted his enthusiasm about Binance Labs supporting Usual, as it pushes the boundaries of what stablecoins can achieve.
According to Pierre Person, CEO and co-founder of Usual Labs, this recent funding round underscores their prominence among the standout initiatives in stablecoins and Decentralized Finance (DeFi) for 2024. This achievement will empower Usual Labs to venture beyond DeFi into Centralized Finance (CeFi).
Odagiu expressed his excitement about the recent funding round, stating that it solidifies Usual as one of the most promising projects of 2024 within both the stablecoin and DeFi sectors. This achievement will drive Usual’s transition from the DeFi sector into CeFi, with the backing of investors who are dedicated to transforming the stablecoin marketplace.
Pierre mentioned furthermore that their latest partnership with Binance is merely a starting point, and they plan to persist in their collaboration to ensure the dynamic and community-driven evolution of the stablecoin sector.
The platform’s latest launch of USD0, boasting an advanced collateral system, underscores its dedication to persistent innovation while ensuring safety. This advancement, in tandem with strategic alliances with companies like Ethena and Securitize, places Usual at the cutting edge of stablecoin development. Moreover, this past summer, it became the most rapidly expanding stablecoin on Ethereum, marking the initial swift growth for a fiat-backed stablecoin.
Adli Takkal Bataille, as CEO and co-founder of Usual Labs, has highlighted that over the past five months, Usual has demonstrated resilience through an inventive approach to value sharing. They are bridging the gap between traditional fiat currencies and decentralized finance (DeFi) by introducing stablecoins, and the upcoming stage of their journey will further propel this transition, opening up fresh prospects for users.
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2024-12-23 22:30